Self-Regulatory Organizations; Chicago Stock Exchange, Inc.; Order Approving a Proposed Rule Change and Amendment No. 1 and Notice of Filing and Order Granting Accelerated Approval to Amendment No. 2 to a Proposed Rule Change Relating to Disciplinary and Delisting Procedures; Correction, 62496-62497 [E6-17846]

Download as PDF 62496 Federal Register / Vol. 71, No. 206 / Wednesday, October 25, 2006 / Notices across all classes rather than only those assigned to the Market Maker. The text of the proposed rule change is available on the Exchange’s Web site (http:// www.bse.com), at the Exchange’s Office of the Secretary and at the Commission. II. Self-Regulatory Organization’s Statement of the Purpose of, and Statutory Basis for, the Proposed Rule Change In its filing with the Commission, the Exchange included statements concerning the purpose of, and basis for, the proposed rule change and discussed any comments it received on the proposed rule change. The text of these statements may be examined at the places specified in Item IV below. The Exchange has prepared summaries, set forth in Sections A, B, and C below, of the most significant aspects of such statements. A. Self-Regulatory Organization’s Statement of the Purpose of, and Statutory Basis for, the Proposed Rule Change 1. Purpose The Exchange proposes to amend the MAC which is contained in the Fee Schedule for BOX. Currently, in order to determine if a Market Maker has reached its MAC, volume in their assigned classes is charged a flat fee, which is then compared to the MAC. In addition, any activity outside a Market Maker’s appointments is charged a flat fee separately. Since trading in classes outside of a Market Maker’s appointment consumes a similar amount of technological resources as those in a Market Maker’s assigned volume, the Exchange proposes to have this unassigned activity included in the volume accumulation that is used to determine if a Market Marker has reached its MAC. This proposed rule change would aid BOX in its continuing effort to reduce total fees incurred by Participants. mstockstill on PROD1PC61 with NOTICES 2. Statutory Basis The Exchange believes that the proposal is consistent with the requirements of section 6(b) of the Act,5 in general, and section 6(b)(4) of the Act,6 in particular, in that it provides for the equitable allocation of dues, fees and other charges among its members. The Exchange believes that it is appropriate to review the MAC across all classes rather than only those assigned to the Market Maker, in the 5 15 6 15 U.S.C. 78f(b). U.S.C. 78f(b)(4). VerDate Aug<31>2005 15:12 Oct 24, 2006 interest of fair pricing for all Participants. B. Self-Regulatory Organization’s Statement on Burden on Competition The Exchange does not believe that the proposed rule change will impose any burden on competition that is not necessary or appropriate in furtherance of the purposes of the Act. C. Self-Regulatory Organization’s Statement on Comments on the Proposed Rule Change Received From Members, Participants, or Others The Exchange has neither solicited nor received comments on the proposed rule change. III. Date of Effectiveness of the Proposed Rule Change and Timing for Commission Action The proposed rule change has become effective upon filing pursuant to section 19(b)(3)(A)(ii) of the Act 7 and subparagraph (f)(2) of Rule 19b–4 thereunder 8 because it changes a due, fee, or other charge imposed by the Exchange. At any time within 60 days of the filing of such proposed rule change, the Commission may summarily abrogate such rule change if it appears to the Commission that such action is necessary or appropriate in the public interest, for the protection of investors, or otherwise in furtherance of the purposes of the Act. IV. Solicitation of Comments Interested persons are invited to submit written data, views and arguments concerning the foregoing, including whether the proposed rule change is consistent with the Act. Comments may be submitted by any of the following methods: Electronic Comments • Use the Commission’s Internet comment form http://www.sec.gov/ rules.sro.shtml); or • Send an e-mail to rulecomments@sec.gov. Please include File Number SR–BSE–2006–43 on the subject line. Paper Comments • Send paper comments in triplicate to Nancy M. Morris, Secretary, Securities and Exchange Commission, 100 F Street, NE., Washington, DC 20549–1090. All submissions should refer to File No. SR–BSE–2006–43. This file number should be included on the subject line if e-mail is used. To help the 7 15 8 17 Jkt 211001 PO 00000 U.S.C. 78s(b)(3)(A)(ii). CFR 240.19b–4(f)(2). Frm 00081 Fmt 4703 Sfmt 4703 Commission process and review your comments more efficiently, please use only one method. The Commission will post all comments on the Commission’s Internet Web site (http://www.sec.gov/ rules.sro.shtml). Copies of the submission, all subsequent amendments, all written statements with respect to the proposed rule change that are filed with the Commission, and all written communications relating to the proposed rule change between the Commission and any person, other than those that may be withheld from the public in accordance with the provisions of 5 U.S.C. 552, will be available for inspection and copying at the Commission’s Public Reference Room. Copies of such filing will also be available for inspection and copying at the principal office of the BSE. All comments received will be posted without change; the Commission does not edit personal identifying information from submissions. You should submit only information that you wish to make available publicly. All submissions should refer to the file number in the caption above and should be submitted on or before November 15, 2006. For the Commission, by the Division of Market Regulation, pursuant to delegated authority.9 J. Lynn Taylor, Assistant Secretary. [FR Doc. E6–17833 Filed 10–24–06; 8:45 am] BILLING CODE 8011–01–P SECURITIES AND EXCHANGE COMMISSION [Release No. 34–54437A; File No. SR–CHX– 2005–06] Self-Regulatory Organizations; Chicago Stock Exchange, Inc.; Order Approving a Proposed Rule Change and Amendment No. 1 and Notice of Filing and Order Granting Accelerated Approval to Amendment No. 2 to a Proposed Rule Change Relating to Disciplinary and Delisting Procedures; Correction October 18, 2006. In FR Doc. No. E6–15588, beginning on page 55037 for Wednesday, September 20, 2006, the sentence in Part V on page 55042 contained an error. Release No. 34–54437 (the ‘‘Release’’) approved a proposed rule change filed by the Chicago Stock Exchange, Inc., in File No. SR–CHX–2005–06. Part V of the Release identified the filing being 9 17 E:\FR\FM\25OCN1.SGM CFR 200.30–3(a)(12). 25OCN1 Federal Register / Vol. 71, No. 206 / Wednesday, October 25, 2006 / Notices approved as SR–CBOE–2005–06, rather than SR–CHX–2005–06. Accordingly, Part V of the Release should be revised to read as follows: ‘‘It is therefore ordered, pursuant to Section 19(b)(2) of the Act,1 that the proposed rule change (SR–CHX–2005– 06), as amended, is approved.’’ For the Commission, by the Division of Market Regulation, pursuant to delegated authority.2 Nancy M. Morris, Secretary. [FR Doc. E6–17846 Filed 10–24–06; 8:45 am] BILLING CODE 8011–01–P SECURITIES AND EXCHANGE COMMISSION [Release No. 34–54619; File No. SR–FICC– 2006–07] Self-Regulatory Organizations; Fixed Income Clearing Corporation; Notice of Filing of a Proposed Rule Change Relating To Providing Certain Reports to its Members October 18, 2006. Pursuant to Section 19(b)(1) of the Securities Exchange Act of 1934 (‘‘Act’’),1 notice is hereby given that on April 21, 2006, the Fixed Income Clearing Corporation (‘‘FICC’’) filed with the Securities and Exchange Commission (‘‘Commission’’) and on June 2, 2006, amended the proposed rule change as described in Items I, II, and III below, which Items have been prepared primarily by FICC. The Commission is publishing this notice to solicit comments on the proposed rule change from interested persons. I. Self-Regulatory Organization’s Statement of the Terms of Substance of the Proposed Rule Change The proposed rule change would clarify the frequency of certain reports that FICC will provide to its members. mstockstill on PROD1PC61 with NOTICES II. Self-Regulatory Organization’s Statement of the Purpose of, and Statutory Basis for, the Proposed Rule Change In its filing with the Commission, FICC included statements concerning the purpose of and basis for the proposed rule change and discussed any comments it received on the proposed rule change. The text of these statements may be examined at the places specified in Item IV below. FICC has prepared summaries, set forth in Sections A, B, 1 15 U.S.C. 78s(b)(2). CFR 200.30–3(a)(12). 1 15 U.S.C. 78s(b)(1). 2 17 VerDate Aug<31>2005 15:12 Oct 24, 2006 Jkt 211001 and C below, of the most significant aspects of such statements.2 A. Self-Regulatory Organization’s Statement of the Purpose of, and Statutory Basis for, the Proposed Rule Change The purpose of the proposed rule change is to further harmonize the rules of The Depository Trust & Clearing Corporation’s clearing agency subsidiaries. In this filing, FICC proposes to conform the rules of both its divisions, the Government Securities Division and the Mortgage Backed Securities Division (‘‘MBSD’’), regarding providing FICC’s financial reports to members to the equivalent rule of The Depository Trust Company (‘‘DTC’’).3 The revised rules would state that quarterly unaudited financial statements would only be provided to members for the first three quarters of the calendar year.4 In addition, although FICC would delete the time frames for providing the financial reports from its rules (in conformity to DTC’s rule), FICC would nevertheless continue to make its annual audited financial statements available to its members within 60 days of the fiscal year end and would continue to make its quarterly unaudited financial statements available within 30 days of the quarter end.5 FICC also proposes to change the time frame in Article V, Rule 5, Section 3 of MBSD’s Clearing Rulebook and EPN Rulebook regarding its providing to its members with the independent auditors’ annual study and evaluation of MBSD’s internal accounting controls. While FICC proposes to delete these rule provisions in their entirety, FICC would make this study and evaluation available to its members within a reasonable time after it receives it from its independent accountants, which is exactly the practice for DTC. FICC believes that the proposed rule change is consistent with the requirements of Section 17A of the Act 6 and the rules and regulations thereunder because it is a change that does not adversely affect the safeguarding of securities or funds in the custody or control of FICC or for which it is responsible. 2 The Commission has modified the text of the summaries prepared by FICC. 3 DTC Rule 15. 4 An annual audited financial statement is provided to members after the last calendar quarter of each year. 5 FICC will post the information on its website within the requisite time frames. 6 15 U.S.C. 78q–1. PO 00000 Frm 00082 Fmt 4703 Sfmt 4703 62497 B. Self-Regulatory Organization’s Statement on Burden on Competition FICC does not believe that the proposed rule change will have any impact or impose any burden on competition. C. Self-Regulatory Organization’s Statement on Comments on the Proposed Rule Change Received From Members, Participants, or Others FICC has not solicited or received written comments relating to the proposed rule change. FICC will notify the Commission of any written comments it receives. III. Date of Effectiveness of the Proposed Rule Change and Timing for Commission Action Within thirty-five days of the date of publication of this notice in the Federal Register or within such longer period (i) as the Commission may designate up to ninety days of such date if it finds such longer period to be appropriate and publishes its reasons for so finding or (ii) as to which the self-regulatory organization consents, the Commission will: (A) By order approve such proposed rule change; or (B) Institute proceedings to determine whether the proposed rule change should be disapproved. IV. Solicitation of Comments Interested persons are invited to submit written data, views, and arguments concerning the foregoing, including whether the proposed rule change, as amended, is consistent with the Act. Comments may be submitted by any of the following methods: Electronic Comments • Use the Commission’s Internet comment form (http://www.sec.gov/ rules/sro.shtml); or • Send an e-mail to rulecomments@sec.gov. Please include File No. SR–FICC–2006–07 on the subject line. Paper Comments • Send paper comments in triplicate to Nancy M. Morris, Secretary, Securities and Exchange Commission, 100 F Street, NE., Washington, DC 20549–1090. All submissions should refer to File No. SR–FICC–2006–07. This file number should be included on the subject line if e-mail is used. To help the Commission process and review your comments more efficiently, please use only one method. The Commission will post all comments on the Commission’s Internet Web site (http://www.sec.gov/ E:\FR\FM\25OCN1.SGM 25OCN1

Agencies

[Federal Register Volume 71, Number 206 (Wednesday, October 25, 2006)]
[Notices]
[Pages 62496-62497]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E6-17846]


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SECURITIES AND EXCHANGE COMMISSION

[Release No. 34-54437A; File No. SR-CHX-2005-06]


Self-Regulatory Organizations; Chicago Stock Exchange, Inc.; 
Order Approving a Proposed Rule Change and Amendment No. 1 and Notice 
of Filing and Order Granting Accelerated Approval to Amendment No. 2 to 
a Proposed Rule Change Relating to Disciplinary and Delisting 
Procedures; Correction

October 18, 2006.
    In FR Doc. No. E6-15588, beginning on page 55037 for Wednesday, 
September 20, 2006, the sentence in Part V on page 55042 contained an 
error. Release No. 34-54437 (the ``Release'') approved a proposed rule 
change filed by the Chicago Stock Exchange, Inc., in File No. SR-CHX-
2005-06. Part V of the Release identified the filing being

[[Page 62497]]

approved as SR-CBOE-2005-06, rather than SR-CHX-2005-06. Accordingly, 
Part V of the Release should be revised to read as follows:
    ``It is therefore ordered, pursuant to Section 19(b)(2) of the 
Act,\1\ that the proposed rule change (SR-CHX-2005-06), as amended, is 
approved.''
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    \1\ 15 U.S.C. 78s(b)(2).

    For the Commission, by the Division of Market Regulation, 
pursuant to delegated authority.\2\
---------------------------------------------------------------------------

    \2\ 17 CFR 200.30-3(a)(12).
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Nancy M. Morris,
Secretary.
 [FR Doc. E6-17846 Filed 10-24-06; 8:45 am]
BILLING CODE 8011-01-P